TOKYO -- Investors are giving the cold shoulder to Japanese companies crafting spending plans with a focus on growth.
Shares of Sharp symbolized such sentiment Friday. After the close of the morning session, the electronics manufacturer unveiled a nearly 60 billion yen ($598 million) investment to set up pilot production lines for OLED screens. The plan represents the troubled company's first positive move in a long while, but the stock failed to draw buying in the afternoon. It ended the day flat at 135 yen a share.